16 Mar 2017

Globes – Teddy Sagi sells Playtech shares for $139m

Sagi: Selling shares is part of a long-term strategy to diversify the group’s business in real estate, shared work spaces, fintech, and ecommerce.
The share price of Playtech Ltd. (LSE:PTEC), billionaire Teddy Sagi’s first source of wealth, is still at peak levels, and Sagi is still selling shares in the company, among other things in order to pay for his growing real estate business. Playtech, the world’s largest provider of software platforms for gaming websites, today completed a fourth offer for sale, in which Sagi sold shares for £113 million ($139 million) at £8.725 per share. The preceding offer for sale was last November, and the company said that the success of both offers shows the appetite among investment institutions for its shares.